PoolTogether integration

[teawaterwire]

• Proposal

  • Add support for PoolTogether protocol, allowing vaults to mint and redeem ticket tokens, thus providing depositors exposure to crypto-powered premium bonds

• Motivation

  • https://enzyme.canny.io/feature-requests/p/pooltogether-support
  • TVL PoolTogether $200m
    • https://defillama.com/protocol/pooltogether
  • Yearn finance vaults are using PoolTogether with some of their strategies
    • https://medium.com/yearn-state-of-the-vaults/the-vaults-at-yearn-9237905ffed3
  • Current gas costs prevent individuals from entering pools, making it compelling to do it from an Enzyme vault: splitting gas cost, farming POOL and increasing odds of winning
  • similarity with existing Aave and Compound integration
  • got the idea of submitting this proposal during the last Enzyme community call
    • 

• Implementation

  • why me?
    • ex CTO of multis.co (crypto wallet for companies, eFounders, Y Combinator S19)
      • https://multis.co/
    • fullstack engineer from Solidity to CSS with 10 year experience
      • https://www.linkedin.com/in/teawaterwire/
    • deep knowledge of DeFi protocols
      • Degen score pending ;p
    • user and evangelist of PoolTogether since v1 (now v3)
      • https://twitter.com/teawaterwire/status/1232794151495897090
    • active user of Enzyme through the fund "La Crypto C'est Rigolo"
      • https://teawaterwire.medium.com/la-crypto-cest-rigolo-d3e8f224044a
  • code wise
    • i already looked into other adapters to see what would be needed in terms of development:
      1. PoolTogetherFeed.sol
         • PoolTogether ticket tokens are pegged 1:1 to the base asset (DAI, USDC etc)
         • making them fall in the "derivatives" category
         • and it will be similar to Aave aTokens in this regard
      2. IPoolTogetherPrizePool.sol
         • exposing methods of PoolTogether prize pools
      3. PoolTogetherAdapter.sol
         • using contracts from a. and b.
         • falling into the Yield category we would implement the "lend" and "redeem" method
           • lend would be the "minting" of ticket tokens from any of the base assets supported by both PoolTogether and Enzyme
             • all parameters of this method are straightforward
             • only question remains regarding the "referrer" reward. i'd suggest it goes either to the fund manager or to Enzyme.
           • redeem would be the "withdrawing" of previously minted ticket tokens.
             • one ticket token converts one to one to the base token
             • only caveat is around the "maximumExitFee" parameter: all pools have an "earlyExitFee" to enforce fairness. This will require some work on the frontend to warn and prevent managers to withdraw too early
  • other considerations:
    • NFT:
      • Prize pools can award NFTs with the loot box. At the moment NFTs are not supported by vaults, but since they are not the main feature of PoolTogether (as opposed to the pooled reward from yield) we can just ignore them at the moment
    • POOL tokens:
      • PoolTogether introduced a governance token POOL à la COMP
      • by entering incentivised pools, ticket holders are farming POOL tokens
      • anyone can claim tokens accumulated by an address
      • i suggest here the implementation in the Rewards section of Enzyme to allow fund manager to withdraw rewards
      • POOL needs to be added to the supported assets in Enzyme. I believe PoolTogether team will be glad to sponsor the Chainlink price feed for that matter.

• Compensation

  • i estimate between 5 and 10 days to deliver a complete solution, tested, and integrated with the frontend
  • depending on the necessary audit on the new contracts, more back and forth could be required
  • i suggest invoicing on a half day basis for around $300
  • payment with MLN tokens converted at the time of the transaction (when pull request is accepted) would be cool

[perhamgirl]

Avantgarde strongly supports this proposal. Its a reasonable ask and very well researched/ thought out. Furthermore we're excited by the opportunity for both communities (Pooltogether & Enzyme) to collaborate further and use this as a starting point

[asselstine]

This is exciting to see! If you have any questions please pop into our Discord #developers channel.

Only "gotcha" that you should think about is that the grand prize winner also receives the accrued COMP. So the grand prize is more tickets + COMP for all of the Compound-based pools. You'll want to make sure you can move those tokens.

[sirgawain0x]

I think our project would be a great candidate for the NFT portion of this proposal. We are core based on NFTs and have our own LP smart contract. Creative